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180522 | Wyevale Garden Centres on market - willing to accept offers for individual stores, groups or single entity

Wyevale Garden Centres sale: how much will it shake up the industry?

Terra Firma has put Wyevale Garden Centres on the market through Christie & Co and is willing to accept offers for individual stores and groups of centres or to sell as a single entity.


 

Wyevale Garden Centres put up for sale by private equity Terra Firma; Christie Group to advise on disposal

13:12 22 May 2018
Terra Firma bought the business – then known as The Garden Centre Group - in March 2012 from Lloyds Banking Group PLC in a deal that valued Britain’s then largest garden centres operator by revenue at £276mln
Gardening
Publicly listed in 1987, Wyevale was taken private in 2006 in a £445mln buyout but collapsed under its debt burden in 2008

Wyevale Garden Centres has been put up for sale by Terra Firma, the private equity fund set up by Guy Hands, with AIM-listed business services firm Christie Group PLC (LON:CTG) to advise on the disposal.

In a statement, Christie Group said the high-quality portfolio of 145 garden centres, located across the UK but with a weighting towards the South East of England, ranges from horticultural centres to major leisure destination venues.

Chris Day, global managing director at the group’s advisory business, Christie & Co commented: "The garden centre market is vibrant and on an upwards trajectory.”

He added: "The sale of Wyevale Garden Centres presents a unique opportunity for a wide range of buyers from financial institutions, existing garden centre operators, independent business people and entrepreneurs to buy well invested local garden centres within the price range of £200k to £35m.”

Terra Firma bought the business – then known as The Garden Centre Group - in March 2012 from Lloyds Banking Group PLC (LON:LLOY) in a deal that valued Britain’s then largest garden centres operator by revenue at £276mln.

Publicly listed in 1987, Wyevale was taken private in 2006 in a £445mln buyout by a group headed by Scottish entrepreneur, Sir Tom Hunter but collapsed under its debt burden in 2008 when lenders took control through a debt-for-equity swap.

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